Vulcan flyovers offers scenic overflights of mount st. helens, the volcano in washington state that explosively erupted in 1982. data concerning the company’s operations in july appear below:
vulcan flyovers operating data for the month ended july 31
actual results flexible budget planning budget
flights (q) 55 55 53
revenue ($350.00q) $ 16,200 $ 19,250 $ 18,550
expenses:
wages and salaries ($3,700 $86.00q) 8,398 8,430 8,258
fuel ($33.00q) 1,979 1,815 1,749
airport fees ($870 $32.00q) 2,510 2,630 2,566
aircraft depreciation ($9.00q) 495 495 477
office expenses ($230 $1.00q) 453 285 283
total expense 13,835 13,655 13,333
net operating income $ 2,365 $ 5,595 $ 5,217
the company measures its activity in terms of flights. customers can buy individual tickets for overflights or hire an entire plane for an overflight at a discount.
required:
complete the fexible budget perfromance for july:
(a) revenue and spending variance.
(b) activity variances.

Revenue and spending variance is Unfavourable

Activity variance is favourable

Explanation:

We need to determine Revenue and Spending Variance and Activity Variance.

Revenue and Spending Variance = difference between actual result and flexible budget. The above variance may be favourable or unfavorable or none

In the case of revenue, if the actual result figure is higher than the flexible budget, the revenue and expenditure variance is favorable and vice versa.

In case of expenses, if actual result figure is higher than flexible budget the revenue and spending variance is  unfavorable and vice a versa.

F is for Favourable

U is for Unfavourable

N is for None

Activity Variance  = difference between flexible budget and planning budget . The above variance may be favourable or unfavorable or none

Actual ResultRevenue and Spending Variance  Flexible BudgetActivity Variance  Planning Budget

Flights (q)55  55  53

Revenue ($350.00q)$16,200  $3,050  U$19,250  $700  F$18,550  

Expenses:        

Wages and salaries ($3,700 $86.00q)$8,398  $32  U$8,430  $172  U$8,258  

Fuel ($33q)$1,979  $164  U$1,815  $66  U$1,749  

Airport fees ($870 $32.00q)$2,510  $120  F$2,630  $64  U$2,566  

Aircraft Depreciation ($9q)$495  $0  N$495  $18  U$477  

Office expenses ($230 $1.00q)$453  $168  U$285  $2  U$283  

Total Expenses$13,835  $180  U$13,655  $322  U$13,333  

Net Operating Income$2,365  $2,870  U$5,595  $378  F$5,217  

NOTE; Please see attached file.

the correct answer is:

it required the president to inform congress within forty-eight hours of any new troop commitment.

the war powers resolution (1973) is a federal law designed to limit the u.s. president’s ability to initiate or intensify military actions abroad without the approval of the congress.

it establishes that the president can send armed forces into action abroad only by declaration of war by congress, statutory authorization, or in case of a national emergency created by attack upon the united states, its territories or possessions, or its armed forces.

it requires the president to notify congress within 48 hours of sending armed forces to military action.